Eurodollar’s revival strengthens as BP sells $550m, erasing September failure

BP rig for new website
By Jon Hay
13 May 2014

BP issued a $550m Eurodollar bond on Tuesday, reviving a deal that it failed to execute in September, after being encouraged by the success of Nestlé in issuing a $650m Eurodollar last week.

This fickle market for dollar bonds sold outside the US had not hosted a successful deal since TeliaSonera’s last August. BP’s attempt in September had been scuppered, one banker who worked on it said last week, by the imminence of Verizon’s monster dollar bond funding, which was all ...

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